UAE likely to rollover $2 billion debt for Pakistan

Islamabad: The United Arab Emirates (UAE) is likely to rollover 02 billion dollars in debt for Pakistan this week, reportedly.

According to the media reports, Ministry of Finance has stated that the loan of two billion dollars from the UAE will be postponed for one year.

It is reported that Ministry of Finance said that caretaker Prime Minister Anwaar-ul-Haq Kakar had written a letter to the President of the UAE in this regard.

According to the reports, the loan of 2 billion dollars from UAE was maturing till January 23 and now 3% interest on one billion dollars and 6.5% interest on one billion dollars will be paid to UAE.

The discussions among the Prime Minister's Office and the Ministry of Finance are underway to roll over the debt , reportedly.